Search results
4 hours ago · The Heritage Foundation's Index of Economic Freedomstates that, "Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please. In economically free societies, governments allow labor ...
4 hours ago · Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
1 day ago · China's was the only major world economy to experience GDP growth in 2020, when its GDP increased by 2.3%. [101] However, it posted one of its worst economic performances in decades because of COVID-19 in 2022. [102] In 2023, IMF predicted China to continue being one of the fastest growing major economies. [103]
1 day ago · A communist state, also known as a Marxist–Leninist state, is a one-party state that is administered and governed by a communist party guided by Marxism–Leninism. Marxism–Leninism was the state ideology of the Soviet Union, the Comintern after Bolshevisation and the communist states within the Comecon, the Eastern Bloc, and the Warsaw ...
4 hours ago · Germany has a social market economy with a highly skilled labour force, a low level of corruption, and a high level of innovation. It is the world's third-largest exporter and third-largest importer, and has the largest economy in Europe, the world's third-largest economy by nominal GDP and the fifth-largest by PPP.
